Here’s a fascinating article from the Real Property Manager. It’s called Property Investing Scams and How to Spot Them.
John Gilmovich shares some truly interesting advice here. This one has got to be one of his best:
Take the time to research any suburb in which you want to buy. Understand the median prices for homes in that area and compare the options of buying an established home versus building a new home in the same area. Do the sums and work out whether you’re able to build any capital growth into your property simply by choosing construction in a given area. Do a little research into the anticipated rental income you’re likely to receive and also the current or past re-sales of similar property.
For more of his expert advice, check out the rest of the article…